Corporate governance

Board of Directors

Corporate governance is recognised to be one of the keys for creating a solid foundation for the business and is embedded in the culture of the company through its core values. The Board is responsible for the overall corporate governance of the Company, and it recognises the need for the highest standards of ethical behaviour and accountability.

The Directors support the implementation of key policies in keeping with the size and nature of the business and is committed to administering the Corporate governance structure to promote integrity and responsible decision making.

The company has adopted the Eight Central Principles recommended in the Corporate Governance Principles and Recommendations Edition 3 - 2014 prepared by the ASX Corporate Governance Council. In accordance with the requirements of the Australian securities legislation, the policies are reviewed at least annually by the Directors and a disclosure is made regarding the Board’s approach to corporate governance.

Specific policies exist for the following areas:

Health, Safety and Security Policy

Environment, Social and Governance Policy

Audit Committee Charter

Nomination and Remuneration Committee Charter

Communication and Continuous Disclosure Policy

Risk Management Policy

Where specific policies do not exist, the Board refers to the above referenced ASX Corporate Governance Principles and Recommendations.

The Board will consider on an ongoing basis its Corporate Governance Policies and Procedures and monitor whether they are sufficient given the size and nature of the Company’s operations.

Board Committees

The Board has established three committees:

Audit Committee

Established to assist the Directors in completing their oversight responsibilities regarding:

Financial reporting

Continuous disclosure

Internal controls

Financial processes

Nomination and Remuneration Committee

Established to assist the Directors in completing their oversight responsibilities regarding:

Board performance

Human resources policies

Diversity policies

Staff and management compensation

Directors’ compensation

Succession and development

Governance Committee

Established to assist the Directors in completing their oversight responsibilities regarding: